Boeing goes another month without a single airliner order

[Omaha Steve]

Source: AP

By DAVID KOENIG

Boeing failed to sell a single commercial airplane but saw orders for 108 planes canceled in April as a sharp drop in air travel erased any demand among airlines for new jetliners.

It marked the second month this year in which Boeing received no orders, a fate that would have seemed impossible not long ago.

Boeing also indicated Tuesday that it is no longer certain about completing orders for another 101 planes and dropped them from its backlog, which dropped below 5,000.

Airbus said it received orders for nine planes in April, bringing its 2020 total to 299 planes after cancellations. The European plane maker said its backlog was 7,645 jets.



FILE - In this April 7, 2020, file photo, U.S. Air Force KC-46 tankers being built by Boeing sit parked at the Paine Field airport in Everett, Wash. Boeing failed to sell a single commercial airplane but saw orders for 108 planes canceled in April as a sharp drop in air travel erased any demand among airlines for new jetliners. It marked the second month this year in which Boeing received no orders, a fate that would have seemed impossible not long ago. (AP Photo/Ted S. Warren, File)


Read more: https://apnews.com/e4f8118b71348a4dc216b7ed19467a10

[genxlib]

1. I was just talking about that this morning

In a comment to another post.

They have to be in deep trouble. They already have a bunch of planes sitting around waiting to be sold because they kept building the 737max even when it couldn't fly. Now they have to try and sell planes into a shrinking market.

Would not want to own their stock right now.

[relayerbob]

3. They've also incurred enormous over-runs on the SLS and Artemis programs

Huge problems with software in the spacecraft, auditors finding inconsistencies and deception in their testing and quals, FOD in the fuel tanks and engines on the SLS.

Big time problems. I agree, their stock must be near a historic bottom

[genxlib]

4. Are the government funded problems going to hurt them?

So often, the government ends up paying for the overruns and other problems. The defense contractors always seem to come out ahead no matter how they do.

[relayerbob]

9. Even if they do, the damage to the reputation will further damage the stock price

Combined with the 737 Max debacle, this is a company that is seriously out of control. As a "Six Sigma MBB" from the aerospace industry, this is all big-time bad news.

[DENVERPOPS]

7. Not to worry

Their stock is fully backed by the U.S. Treasury, Trump, and the RepubliCON Senators

[in2herbs]

2. I wonder what my future holds: Boeing stock and Boeing pension. Will they both go

poof in mid-air in the near future??

[NoRoadUntravelled]

5. Boeing blatantly disregarded safety issues putting thousands of lives at risk.

They'll want a bail out and will say it's because of Covid19 when the real issue is that they, like tRump, care only about the bottom line and are willing to risk lives for $$$$.

[maxsolomon]

10. On the 787 Max.

They have other planes, and employ 1,000s of employees who are not top management and have nothing to do with that fuck up. They are the economic backbone of several regions: Seattle, Wichita, Charleston, New Orleans.

Baby, bathwater, ad infinitum.

[NoRoadUntravelled]

19. You're right.

Knee jerk reaction without enough thought on my part. Things are bad enough without even more people losing their jobs.

And thank you, maxsolomon, for bringing that to my awareness.

[Maxheader]

6. The kc 46ers are sold...

Boeing doesn't build "spec" military aircraft..

[Bengus81]

13. They sent a bunch of those to Wichita--McConnell AFB in a hurry

A couple of years ago or whenever when they were under pressure to deliver after endless delays. Those POS were full of em..."trash" as it were. Bolts,nuts even some tools left in there just to say "We delivered them!!". At one point the AF said they wouldn't accept anymore deliveries unless they were spotless.

Then came their 737 Max death trap

Gawd........

[maxsolomon]

8. Is this suprising to AP News?

Anyone ordering any Airbus products? Embraer? Bombardier?

It's like starting Church Construction or Office TI projects - why would anyone do that?

[bucolic_frolic]

11. People are waiting for the Space Force

[Baclava]

12. With entire plane fleets parked, not surprising

?fit=scale

[genxlib]

14. Those are interesting

It's obvious they have to be parked somewhere but it really makes an impression to see it anyway.

What is going to kill Boeing is that they have similar pictures of the backlog of newly made 737max planes waiting for buyers. Those two things do not add up well for them.

[MicaelS]

15. Covid has driven the 737 Max problem off the radar. n/t

[maxsolomon]

18. They are continuing to test fixes for the issues.

Better to do it out from under the angry public's magnifying glass.

[SkatmanRoth]

16. Boeing cut corners to increase profit in the 737 MAX and people died.

Then Boeing tried to cover it up, but the cooperate attitude toward the lives of their customers is clear.

A Government bail out for Covid-19 is not going to save Boeing. Dump your investments and get Boeing out of your retirement accounts.

[maxsolomon]

17. Boeing is essential for the security of the United States.

It will not be permitted to fail, 787 Max or no. Do you think the EU would let Airbus go under? Brazil and Embraer?

What would you suggest Boeing Pensioners do?

[SkatmanRoth]

20. Boeing has significant income from defense.

In 2019 Boeing collected 20 Billion 500 million dollars, about 34% of their income, on defense contracts. The Government may allow them to spin off the defense business to an independent company. Their next competitor, Lockheed Martin collected 53 billion 700 million dollars, about 94% of their income, on defense contracts.

Boeing may struggle on in the commercial sector, sans the defense contracts, for a few years, but they are at the end of the run for passenger aircraft. I own few stocks, and none of them are Boeing. My retirement is a pension from my employer, and a 401 plan. I am going to look if my 401 has any Boeing, and if so, I am going to see if I can modify it.

The part we can not readily change is the way the Government has allowed the defense contractor to merge into just a few companies. Remember when there were companies like Chance Vought, Convair, Douglass aircraft, McDonald Aircraft, Fairchild, and Curtiss? The phrase 'too big to fail' comes to mind.

[gab13by13]

21. Maybe Boeing should do a

but 1 Max-787 get one free?